Econ Storyboard

Econ Storyboard

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  • I want to buy 2 front row tickets to this concert for $200 each.
  • Since those are such good seats, you should buy 4 and resell 2 of them for $300 each.
  • Because the concert sold out, the quantity of tickets available decreased which made the resale price increase.
  • *right away* CONCERT: SOLD OUT
  • I listed them right away and they sold for $300 each!
  • $200 PROFIT
  • I'm going to buy 2 front row tickets for $200 each and resell them to make a profit.
  • You should wait until last minute to sell them so people have no choice but to buy them for $500 if they want to go.
  • A few days before the concert, the official ticket website added more tickets. Because the quantity of tickets increased so the resale price decreased even below face value.
  • *2 days before the concert* MORE TICKETS ADDED TO OFFICIAL SITE
  • I was only able to sell them for $100 each because I waited so long.
  • $200 LOSS
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